Thursday, July 21, 2016

Constable financial market opens investigation EDF – The Point

The Financial Markets Authority (AMF) on Thursday sent investigators at the Paris headquarters of EDF, marking the opening of an investigation on the financial information disclosed to the market by the electrician since 2013, a-t- according to sources familiar with the matter, confirming a report in Le Monde.

“Three of the MFA were presented this morning at EDF and have therefore started an investigation process on the financial information EDF has provided the market since 2013, “said the source close to AFP.

” the AMF members came to the office, “said a union source, that it is “a first” for EDF.

When asked by AFP, EDF and the AMF did not wish to comment.

According to the source close to the dossier, the investigators asked “coins, information, dates, account reports “concerning mainly the renovation program of the French nuclear power plants (” refit “) and the controversial project to build a nuclear plant at Hinkley Point (England).

They presented a warrant stating the period under review, ie “2013 today,” she said. This period covers “so the current Presidency and the previous”, those of the current CEO Jean-Bernard Levy and his predecessor Henri Proglio.

The market offenses related financial information can be of several kinds: for example miscommunication or misinformation, the latter being the most serious cases.

“grievances” that will eventually be selected are notified at the conclusion of the investigation and may lead to a sanction procedure.

The opening of the investigation then the AMF occurs EDF wants to make a final investment decision on Hinkley Point. This proposed 18 billion pounds (21.6 billion euros) is strongly contested by some unions that link the risk of weakening financial group owned approximately 85% by the French State.

the central works council (CEC) initiated a lawsuit against the electrician for more information about the project. EDF considers that ended in early July the consultation procedure. A hearing is set for September 22